All residential real estate sales incurs costs. Buyers and sellers usually split these costs, as the sales contract specifies.
Many of the closing costs associated with buying a home are associated with getting the loan. Since Bob Rutledge Mortgage is highly experienced with closings and mortgages, we are closing cost experts.
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we cannot always predict your costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can change slightly at closing.
Below you'll find a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Various TaxesCosts associated with "originating" your loan Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Account Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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